Indian pharmaceutical firm Eris Lifesciences Ltd. has announced the acquisition of a 51 percent equity stake in Swiss Parenterals Ltd. for Rs 637.50 crore.
This strategic move marks Eris’s entry into the RoW Export Markets. According to Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., this acquisition will bolster their India presence by launching a domestic Injectables-focused Branded Formulations business.
Additionally, the focus of Swiss Parenterals on emerging markets aligns well with Eris’s objectives. Concurrently, Eris’s Promoter group will acquire an additional 19 percent stake in Swiss for Rs 237.50 crore, bringing the total equity stake to 70 percent. Out of the total consideration, Rs 200 crore will be paid upon deal closure, with the remainder due 12 months later. The completion of the deal is anticipated by March 31, 2024.
